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Development in downtown Chicago is booming, both from a rentals and condos standpoint. Over the past 18 to 24 months, luxury apartment towers have been going up at a pace unlike anything we’ve seen for quite some time, and the best part about it may be there seems to be no end in sight.

Luxury rental buildings like 111 W. Wacker, 73 E. Lake, and countless others all throughout the city are continuing to impress potential tenants, however, after what seems like forever, new construction condos in Chicago also seem to be making a strong comeback, which we couldn’t be more excited about.

Towards the end of last year, 4 E. Elm in Chicago’s Gold Coast was first unveiled, while other high-end condo towers like Wanda Vista and 9 W. Walton are also on the way.

When you hear the word “penthouse”, ideas of a lavish top floor residence with stunning views and an exclusive status unlike anything else on the market may come to mind. But over the years, developers have expanded on what many of us consider a penthouse to be, using the term more for marketability than anything else.

In some newer construction buildings around Chicago and other major cities, usually the larger developments that house hundreds of individual units, it’s now fairly common to see a larger group of condos being labeled as penthouse units, with many of which not even located on the top floor.

At The Legacy at Millennium Park in The Loop, for example, you’ll find a number of “Penthouse Residences” available on floors 69-72. And although